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Thursday, November 5, 1987 / University Daily Kansan
Nation/World
Reagan says treaty with Soviets wouldn't hurt Europe's defense
WASHINGTON — President Reagan vowed yesterday that a nuclear arms treaty with the Soviet Union would not undercut the U.S. commitment to the security of Europe.
Reagan said the 300,000 U.S. troops stationed abroad and "our steadfast nuclear guarantee underscore this pledge."
He also said it was totally unacceptable for the Soviet Union to try to link reductions in globe-wiring strategic nuclear weapons to restrictions on his Star Wars missile defense plan, also known as the Strategic Defense Initiative. SDL
Army defector returns from Soviet Union
FRANKFURT, West Germany
Soviet leader Mikhail Gorbachev arrives in Washington for a superpower summit next month.
strategic Defense Initiative
"We won't bargain away SDI," Reagan said.
FRANKFURT, West Germany — A U.S. Army private who defected to the Soviet Union seven months ago returned to the West yesterday and said he would surrender to U.S. authorities.
Wade Roberts, 22, said he did not want to return to the Soviet Union
but did not know if he would go to the United States.
Roberts, who flew to Frankfurst from Moscow aboard an Aeroflot jetliner with his pregnant girlfriend, Petra Neumann, said he did not expect to be charged with desertion.
Philippine police detain shooting suspects
MANILA, Philippines — Police have detained 17 people in the killings of three Americans near Clark Air Base and await tests on weapons before deciding whether to file charges, a senior commander said yesterday.
police commander in Angeles City, said at least six of those held also were thought to be rebels of the communist New People's Army.
Lt. Col. Amado Espino Jr.,
Ballistics tests are being conducted on confiscated pistols to determine whether they were used in the killings.
Oregonians misspell governor's number
PORTLAND, Ore. — Oregonians who misspeck Governor Neil Goldschmidt's first name are giving two California businesses a headache.
The toll-free line to Goldschmidt 1-800-322-NEIL — began Monday, and bad spellers have reached a wholesale jeweler in Los Angeles and a backpacking foods manufacturer in Grass Valley, Calif. Neither business has reported making any sales to Oregon callers.
ABA to consider Ginsburg
Republican senators want hearings to stay on schedule
The Associated Press
WASHINGTON — Republican senators yesterday suggested that an American Bar Association panel was dragging its feet in reviewing Supreme Court nominee Douglas H. Ginsburg, and they said slow action by the panel shouldn't hold up Senate consideration of Ginsburg.
The accusation, less than a week after Ginsburg's nomination, represented the Republicans' latest salvo in a campaign to win confirmation for the 41-year-old federal appellate judge before the Senate adjournies for the year.
Judiaryic Committee Chairman Joseph R. Biden Jr., D-Del, has said he will not begin hearings until the review of Ginsburg's qualifications is completed by the American Bar Association's standing committee on the federal judiciary.
said it would be difficult to finish the review this month before deciding which of three ratings Ginsburg should receive: well qualified, not opposed, or not qualified.
Biden and the ranking Republican on the Judiciary Committee, Strom Thurmond of South Carolina, met yesterday in an attempt to agree on a hearing schedule. But no date was set, according to spokesmen for both senators.
the federal judiciary.
The ABA panel's chairman has
Earlier, in a letter to retired federal Judge Harold R. Tyler Jr. of New York, chairman of the ABA panel, several Republican members of the Judicary Committee said, "Many members of the Senate are concerned that the confirmation process be conducted as promptly as possible, consistent with necessary thoroughness."
"In that regard we have beer informed that the standing commit.
tee could, if required, complete its inquiry in as little as two weeks."
Robert Raven of San Francisco, president-elect of the ABA, said, "The appointment of a person to a lifetime position on the nation's highest court is a matter deserving careful and thorough examination.
“Consistent with this responsibility the committee will conduct the investigation of Judge Ginsburg as expeditiously as possible. A rushed examination would be a disservice to the Senate and the nation. Political considerations will not be a part of our evaluation process,” Raven said.
Tyler said in an interview Tuesday that the 15-member panel would try to finish its work this month but that he was not certain that it could be
"If you look at the history of these things, most have taken 30 days or more," he said.
Stock prices drop worldwide
NEW YORK -- Stock prices sagged worldwide yesterday in a selloff that traders blamed on the weak dollar and inaction on the U.S. budget deficit, the same worries that touched off last month's global collapse.
From The Associated Press.
The Associated Press
"To get the public back into this market we need some leadership from Washington," said Hank Striefer, a senior vice president at Shearson Lehman Brothers Inc., a large New York investment firm. "Right now people out there do not feel comfortable."
The widely followed Dow Jones industrial average, which dropped 50.56 points Tuesday and shattered a five-day winning streak, lost another 18.24 points in heavy trading.
The average remains less than halfway back from its record 508-point collapse of Oct. 19, which erased $500 billion from the value of U.S. stocks.
Broader market measurements also dipped, and five stocks fell for every four that rose on the New York Stock Exchange.
Measured by Wilshire Associates' index of more than 5,000 actively traded stocks, the market lost $17.79 billion.
The Dow average, which measures the stock value of the 30 biggest U.S. companies, finished at 1,963.33, putting it nearly 759 points below the stock market's 1987 peak of 2,722.42 on Aug. 25.
"The market is very skitish because there's a lack of anything concrete coming out of Washington," said Philip C. Puccio, manager of institutional trading at the New York investment firm Dillon, Read & Co.
Defaults endanger future aid
Almost 2,200 institutions, or a third of all postsecondary schools, now have default rates that high.
The Associated Press
The government will have to spend $1.6 billion this year to repay banks for defaulted loans, and Bennett called that intolerable.
WASHINGTON - Secretary of Education William J. Bennett threatened yesterday to expel colleges and trade schools from all federal student aid programs if their future student loan default rates exceed 20 percent.
At a news conference, Bennett released a list of default rates at 7,295 colleges and trade schools for fiscal 1985, including more than 500 institutions where 50 percent or more of the graduates or dropouts have refused to pay back their loans.
Beauty colleges, business schools and other trade schools dominated the ranks of those with the worst default rates.
Most universities had default rates well below the national average of 13
Bennett outlined a plan to hold the institutions accountable for their default rates during the next two years. If they fail to bring future defaults to 20 percent or less by December 1990, the Department of Education will move to cut them out of all federal aid programs, including Pell Grants, work-study and other loans.
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